Halliburton Company (HAL), headquartered in Houston, Texas, is a global leader in the energy industry, offering a wide range of products and services to support the exploration, development, and production of oil and natural gas. With a market cap of $24.67 billion, Halliburton plays a pivotal role in delivering innovative and sustainable energy solutions to clients worldwide.
Companies valued at $10 billion or more are classified as "large-cap" stocks. Halliburton exemplifies this status, underscoring its significant scale, stability, and influence in the energy sector. As a global leader in oilfield services, Halliburton’s large-cap standing reflects its extensive portfolio of innovative solutions for exploration, drilling, and production.
HAL shares are trading 36.4% below their 52-week high of $43.85, which they hit on Oct. 18, 2023. The stock has declined 17.5% over the past three months, underperforming the broader S&P 500 Index ($SPX), which has gained 3.5% over the same time frame.
In the longer term, HAL is down 22.9% on a YTD basis, and the shares have declined 33.5% over the past 52 weeks. In comparison, the SPX has gained 18% in 2024 and rallied 25.9% over the past year.
To confirm its bearish trend, HAL has been trading below its 50-day moving average since late July and the 200-day moving average since late April.
On Jul. 19, HAL reported its Q2 results. Its adjusted EPS of $0.80 matched the consensus estimate. The company’s revenue came in at $5.83 billion, missing the Wall Street estimates of $5.95 billion. Shares of HAL closed up 5.6% on the day the results were released.
Highlighting the contrast in performance, HAL's competitor, Schlumberger Limited (SLB), has underperformed both the stock and the broader index. SLB has declined 23.2% on a YTD basis.
Despite the stock's weak price performance, analysts are optimistic about HAL's prospects. The stock has a consensus rating of "Strong Buy" from 21 analysts in coverage. The mean price target is $43.62, which suggests a premium of 56.5% to its current levels.
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